Page images
PDF
EPUB

THE

REGISTER OF PENNSYLVANIA.

DEVOTED TO THE PRESERVATION OF EVERY KIND OF USEFUL INFORMATION RESPECTING THE STATE.

VOL. V.-NO. 6.

EDITED BY SAMUEL HAZARD.

PHILADELPHIA, FEBRUARY 6, 1830. NO. 110.

REMARKS OF MR. MALLERY,

ON THE BILL EXTENDING THE CHARTER OF THE
BANK ON PENNSYLVANIA,

AND FOR OTHER PURPOSES.

| is $1,399,790 67. The amount required to complete the contracts heretofore made and which will be wanted during the present year, is $2,060,742 37, making $3,460,533 06; to which is to be added the $106,000 obtained upon temporary loan and not yet provided for, making together $3,566,533 06; which the state now House of Representatives, January 16th, 1830. owes for canal operations and what is now under contract, without one single foot of extension. Experience MR. MALLERY said-As a member of the Commit- has shown that the real expenditure has exceeded the tee who originated this Bill, it may not be improper for estimate of our engineers. We are bound to make pro. me to present to the view of the House, some of the vision for this sum. A sum not exceding four millions reasons which induced the proposing of this measure for by this measure is proposed, and will be called for if it your consideration, as this subject, connected with all shall be required. There is, however, a further sum matters relative to our finances, has been referred to in addition to this, amounting to 490,000 dolls. which is the commttee of Ways and Means. I am aware, sir, that to be loaned from the several banks under the provisions a variety of measures has been proposed, and that all of their charters. Taking then the estimate made by of these measures for supplying the means for the state the canal commissioners for the amount for which the exigencies, should be fully, fairly, and soberly discussed state is now liable, with the debts already due which we in the consideration of this bill; if the provisions of this must pay, and deduct the amount from all the appropria bill are such as are not recommended by the test of ar- tions heretofore made, and the amount contained in this gument, and fair deductions drawn from an impartia bill, and there remains only $923,466 94. The commit discussion, I will most cheerfully adopt any other course tee of Internal Improvement and Inland Navigation,have which would be more effectual and proper. I wish only not yet been able to lay before this House their report, that the committee [of the whole] should listen to this and we can not tell what they may recommend, nor subject attentively, and examine for themselves. As I what this House may do with regard to extensions. I have no particular desire for a particular mode of rais- can only say, that as an individual member, it forces iting the money, only that it be such an one as will best self upon my mind strongly, that something should be promote the public good; permit me then to say, that done beyond the completion of the contracts already the provisions of this bill contain two objects. The one made. It is not contemplated by the legislature or by is the extension of the charter of the Bank of Pennsyl- the people at large, that our works of public improvevania for a further period of time, which subject has ment should stop where they are, that the canal of the been brought before the House by the late Governor, and west should remain unconnected with the canal of the referred to the Committee of Ways and Means. It will east. It is by this connection alone that we can realize readily be perceived, that the interest of the Common- our anticipated benefits. From the line of the Rail-road wealth is involved in this question. The value of the stock from Philadelphia to Columbia, no benefit can result in in the Bank depends upon the legal existence of its its present condition, nor until the rails are placed, and charter, which is about to expire; unless a further time the road prepared for use Other sections of the canal is given by the Legislature, the officers must soon begin require to be extended to reach certain points, so that to bring to a close the affairs of this institution. The the State shall receive their full benefit. Very little can Commonwealth now owns in this Bank one and a half be expected if they stop where they are, and we shall million of dollars. I need not bring before the Com- have to pay interest, without the State receiving_much mittee the necessity of making some immediate provi- benefit from what has already been done. But I have sion upon this subject. In the closing the concerns of the fullest confidence in the benefit of the whole when an institution of this description, much time must elapse, completed. I would ask the committee whether they during which the operations of the bank must cease, the will loiter and linger, and leave the public works in such interest must cease also. In winding up the concerns a state of unproductiveness that they will be nearly use. of this Bank, the state may realize its original subscrip- less. I for one, would be for extending these improvetion, yet the dividends upon the stock will be suspend- ments so far as to attain certain objects, reach certain ed, if their charter should not be renewed. It needs points, and insure a speedy income to the State. The little reflection to satisfy every member of this commit- amount of money to be expended, and the place where tee, that the interest of the Commonwealth demands of it should be applied, should be limited and controlled us to extend the charter of this Bank, on fair and pro- by a strict regard to the interest of the commonwealth. per principles; that is one object embraced in this bill. The Rail road across the Allegheny mountain according A loan is authorized by this bill to an amount not ex- to Mr. Robinson's report, will require several years to ceeding four millions of dollars. As to the amount, per- accomplish it. It is not like common excavation of a mit me here to observe, that we are compelled to as- canal, which will allow men to work upon every perch. sume some given sum. This sum, however, by the pro- Only a given force can be brought to bear upon certain visions of this bill is not fixed, but is left open and may parts of the work at a time. The sum mentioned in this be controlled by the future acts of the Legislature, if it bill, it is believed, is the least which pun duty and a reshould not be required by laws already passed by this gard for the public good will admit of. The amount will House. Permit me also to observe, that the estimate pay what the state is bound to pay, and if no new conmade by the Board of Canal Commissioners is the only tracts shall be authorised, the balance, if any, will not guide we have at present. And by that report, the a-be loaned. It is not exceeding so much. The loan of mount of money that is now due for work already done, this sum has been connected with the re-chartering the VOL. V.

11

demand, or another failure will ensue. It is doubtless true, that the market for public stock is limited, and who will undertake to decide at this time how much can be obtained by dependence upon the markets. Who can measure its precise capacity? If less than $800,000 could be sold in the last season, what evidence is there that 4,000,000 can he procured in the same way during the present?

The whole amount of banking capital in the state

Bank of Pennsylvania. I am aware that objections have been, and will be again made to this measure; if they are sound and valid, let them have their full force, if they are not, let them be surrendered to the interest of the State. It may not be necessary to mention all the reasons which induced the committee of Ways and Means to connect the loan with the extension of the charter. One reason for connecting this loan with the Bank of Pennsylvania was to make sure of the sum that The only resolution offered upon that subject is to auwill be required for the present year, without submitting thorize a loan and create stock to the amount of two to the embarrassment which has so much humiliated ev- millions. Suppose that could be obtained without the ery Pennsylvanian during the past year. If other and agency of any institution, that sum will not carry the better means can be resorted to, I am willing to a state through the present year, and how are you to obdopt them. The Legislature, however, should profit tain the balance? It is the duty of this legislature to by experience. In the year 1828, a loan was authori-provide with certainty for enough to pay the debts now sed, the amount offered to be subscribed by individu- due, and to become due upon contracts already made, als was very small, the whole loan was taken by the at least. It is true that the loan of last year has been Bank of Pennsylvania; we went on that year without taken, and much of it has been taken by the bank of embarrassment. As far as I have been able to ascertain, Pennsylvania, upon request founded upon a desire to if the Bank of Pennsylvania had not taken that loan, diminish, as far as possible, our embarrasments. there would have been a total failure; the money would If you throw two millions into market without any innot have been procured. Such is the opinion of all ac- stitution to control it, and we shall fail in getting the quainted with the subject. So said the joint commit-balance, how then are we to meet the exigencies of the tee. During the last session, sir, a most unfortunate state. I wish only coolly and briefly to submit to the difficulty arose, accusations were made against that committee the merits of the various projects which have Bank for taking the loan. The two modes of raising been brought forward to be acted upon, and I shall then money were before the Legislature last year. One con- leave it to the committee to take upon themselves the nected with re-chartering this Bank; the other to issue responsibility of the decision, and the consequences in stock and throw it into market, and obtain a loan in that case of a failure. Another proposition is to recharter way. Permit me here to call the attention of the mem- all the banks for 25 years, and they to loan the state the bers with whom I was associated on the floor of this one half of their capital. House last April and March, to the speeches then made on this subject; to the letters received, and to the infor-hich could be embraced within this seheme is not mation given. So much was said upon this subject, that you find incorporated in the report of the Committee of Ways and Means of last year a calculation of an income to be received from premiums upon the sale of state stock. The cry was, appoint a commissioner of loans, throw your stock into market-bring your stock under the hammer, and you will have money enough-it will sell at par--it will bring a premium. And what was the result? We took their advice; we followed their direction; we appointed a commissioner of loans; we threw the stock into market, but the market did not furnish a deinand for the amount. The consequence was, a failure, an extraordinary session of the legislature, embarrassment, humiliation, loss of credit, and injury to our contractors. Is there any certainty that you can succeed better this year? I wish every member to compare the project of throwing the stock into market, and every other project that has been agitated in this house, with the provisions of this bill. You have tried both methods; in one mode you succeeded in 1828, in the other you failed in 1829. At the commencement of this ses- In rechartering the Bank of Pennsylvania, the value sion, what was said to us by Banks and monied men?-- of the state stock in that bank is enhanced; its price deYou must raise the rate of interest; money is worth more pending upon the legal existence of the institution. than five per cent. You must remove the restrictions If the Bank shall dispose of the loan at a profit, three in the sale of the stock. You must authorize the Com-fifths of that profit comes to the commonwealth, regumissioner to sell for what he can get; and you must cre-lated by her interest in the bank. If other banks take ate a permanent fund, specifically appropriated for the the loan and sell at a profit, the states receives nothing. payment of interest, or capitalists will not take your It is not contemplated by any other banks to hold the stock. They want confidence in the ability and faith stock. Their object is to sell. It is required to be neof the commonwealth, Such, sir, were the feelings gociable. Grant their charters, let them take the loan, expressed upon this subject, that many, with professions and what will be the consequence? They cannot keep of personal friendship for members of the committee,it,they will sell, as sell they must; and if they sell at a loss, and much concern for the welfare of the state, uttered the loss will be regarded as the bonus paid for their chartheir astonishment that the interest had not been imme-ters. The price of the state stock may be reduced, and diately raised, or the restriction in the sales of stock removed. Only a few weeks have clapsed, and the story is changed. It is now said there is a demand for state stock-money can be had. This monied market is the most changeable and fickle of earthly things. A breath can raise and a breath can depress it.

A short time since and it was said the sum of money which we must provide for the present year is too much for the demand of the market. It was said the amount must be diminished. The supply must be reduced to the

more than ten millions. By extending all their charters for 25 years, you obtain a loan of five millions at par at 5 per cent. interest. This Bill proposes to extend the charter of one bank, in whose extension the state has a deep interest, for the same period of time, and receive a loan of four millions upon the same terms. Which proposition is the best? Besides, all the banks have not agreed to those terms; some of them have refused. How many would accept of such terms, we cannot tell, nor can we calculate upon the amount to be raised in that mode. The bank of Philadelphia has made a distinct and different offer, and it was objected to extend the charter of that bank because it was placing it too far beyond the reach of the Legislature. If the objection is well founded in the case of a bank in which the state owns stock and is deeply interested, the objections must increase and multiply when the charters of all the banks, and in which the state has no direct interest, are to be extended for the same period of time.

the commonwealth, in her future operations, must take measures to raise its value, or submit to a sale at the depreciated price. It is a sound maxim, that the competition should be among the buyers, and not among the sellers, if a high price is sought,

Fears have been expressed by many, that the attempt of the banks to supply the money required and take the loan, would result in an over issue of their bills, which might destroy the soundness of our currency, and prove injurious to the community.

[blocks in formation]
[ocr errors]

83

Another mode of obtaining money, that of sending an under such circumstances was to be done? Was the le agent to Europe, has been referred to the committee of gislature to tell these men, "although by our laws we Ways and Means,upon the offer of a gentleman influenc-have employed you to do our work and we admit you ed by the most patriotic motives. The time required have faithfully done your duty and completed your conto negociate, and the uncertainty as to the terms upon tracts, yet we are the stronger power, we are omnipowhich it can be obtained, are worthy of consideration. tent, we have the power in our own hands, you are unThe only loan referred to, was obtained after much able to enforce payment in the ordinary way, and theretime and expense, and at an interest of about 5 per fore we will not pay you."? Would not the feelings cent. terms not as advantageous as it is hoped the mo of every man revolt at such flagrant injustice? They ney can be obtained here. certainly would. The state already actually owed the debt. My vote did not go to increase the debt, but only authorized a change of creditors. The faith and honor of the state were concerned, and it was necessary they should be preserved. It was not a question of the expediency or inexpediency of the laws which authorthe creditors of the state. This loan was expressly intended to pay these contractors and workmen, but owing to the circumstances of the times, the money was not obtained, and they were not relieved.

Such sir, are the means of raising money which have been referred by the House to the consideration of the committee of Ways and Means. Let the House examine them well, compare their merits and then decide. Let those who object to the present bill supply a substitute sustained by equal merits, equally sure and ef-ized the works, but a question of common justice to fectual, and the committee of Ways and Means will most cheerfully go with them. Let them place upon paper in a tangible shape the mode to be adopted, and it can be examined and tested. The time has come at which something must be done besides cavil and object. If the bank of Pennsylvania is to supply the money, it is necessary it should be known. If the stock is to be thrown into the market, the present time should be improved-nothing should be lost by the delay.

But the bill now under consideration, is for different objects and different purposes. The objections to its passage in my mind resolve themselves into two kinds, viz: the re-chartering of the bank under the circumstances proposed, and the vast amount of the loan. What If the banks are all to be engaged in the business, then is the object of the bill? It is simply this; the bank they will need the benefit of the present state of the is to be re-chartered for the term of 25 years, to commarket. If we are to send an agent to Europe to sup-mence after the expiration of the present charter, which ply the demands upon the present year, it is time he has yet about three years to run, on condition that was preparing to sail, as the monthly estimates of your she loan to the state, for canal purposes, four millions of contractors are approaching. It has been said that the dollars, at an interest of 5 per cent. The number of House should first provide for an increase of the revenue directors is to be reduced to sixteen, four of whom are before any further loan should be made. If we reflect to be appointed by the governor. Here we have two upon the subject, we shall see that this objection is not distinct prepositions of vast importance and bearing enwell founded. The state owes and is bound for the tirely different aspects, but which have been blended money. It must be raised. It will be soon wanted in together in this bill. Is it proper to recharter the bank part. The principal is to be raised by loan. The pres- on the terms proposed? It appears to me it is not.ent time to effect that is admitted by all to be the most The state holds 1,500,000 dollars of the capital stock, favourable. And it can be easily foreseen, with the and the stockholdrs 1,000,000. What then are the different views that have been presented, that every stockholders giving for the privilege of using this capbill to increase the revenue will require much time and ital for banking purposes? Literally nothing. The discussion-it will find a rough road to travel through state pays the same interest on the loan as is common this House. The passage of a law authorizing a loan in other cases of public loans. There is no doubt the cannot lessen the obligation to provide for the payment loan will be a great advantage to these stockholders, of the interest. There is no information either which for the probability is that they will be able to dispose of the committee of Ways and Means can give the House the stock of the state at an advance, and realise a very by a detailed report at present, which has not been al- handsome profit. Money may be had in foreign counready laid before them, by the messages from the Gov-tries at a low rate of interest, and the bank will be able ernor, and the Canal Commissioners. Any thing upon that subject at present would only be a repetition of what is upon the desk of every member.

Let the House dispose of this subject as they think proper, and then the manner of increasing the revenue to the amount required will claim the attention of the House.

to sell all the state stock to great advantage. The other banks of the state have either paid a heavy bonus for their charters, or are now paying a tax of 8 per cent. on their dividends. The operation of this bill will be to place the stockholders of this bank on a better footing than those of other banks, and to exempt them from a tax to which others are subjected. This partial manMr. F. SMITH rose and said, The importance Mr. ner of legislation I never will consent to. Look at the Chairman, of the subject now before this committee, re- immense advantages we are giving to this institution.quires that I should state the reasons for the vote which It is singled out for a special favour and protection, and I am about to give in opposition to this bill. I do it in we are about giving away without any consideration, discharge of a duty which I conceive I owe to the pub-chartered privileges for 25 years, for which the state lic at large, as well as to my immediate constituents.- should receive at least from 40,000 to 50,000 dolls. from Although I voted for the loan bill passed in the com- the stockholders. And by making this bank the medimencement of this session, I did not thereby sanction the um of the sale of four millions of our stock, we are givunwise and extravagant system of canalling heretofore ing her the power of controlling, for a period, the moniprosecuted. The laws of the commonwealth had au- ed operations of the whole commonwealth. But supthorized the construction of a very large portion of work pose we pass this bill, will not the other banks be entitl on the canals. A great number of contractors and worked to the same privileges and exemptions? for they too men had been employed, under the authority of these no doubt can loan us money on the same terms, and laws, by the legally constituted agents of the common- some of them have already made the offer. They have wealth, and completed their contracts according to their a right to expect the same favors, and we shall soon engagements. They had expended their own means in find, that one after another, as the state may need mothe service of the commonwealth. Many of them were ney, will obtain charters on the terms proposed in this much embarrassed, and some of them in actual distress. bill, and the revenue we now derive from banks amountThe certificates given to them by the canal commission- ing annually to about 40,000 dollars, will gradually deers, as the evidence of the amount of money due them crease and finally be totally destroyed. I view such a for work faithfully performed, were selling, as it was state of things with some degree of apprehension. The asserted, at a discount of from 15 to 20 per cent. What state is already vastly indebted to the banks. By the sys

tem of improvements now in operation, she will need probably as much money to complete the works as has already been expended. The banks having their charters secured for such a long period of time, will feel themselves independent of the Legislature. Have we not then reason to fear that these monied corporations, situated in every section of the state, will exercise an undue influence in our legislative deliberations and the operations of the government? We certainly have, This bill contemplates a loan of four millions. Let us for a moment take a view of the debt now actually due by the state. By the report of the Auditor General made in December last, it appears the debt stands as follows:

Appropriations due to turnpikes

Do

do Bridges

Do

do

Rivers

Do

do

Do

do

Miscellaneous
due on loans

Add to this the million loan passed in November last which has recently been taken

Add the loan made by the Governor and yesterday sanctioned by the Legislature

Add the compulsory loan from the different banks about

Add the loan contemplated by this bill

$113,643 81 6,000 00 18,190 52 50,014 98 8,140,000 00

106,000 00 400,000 00 4,000,000 00

$13,833,849 13

leading communication to connect the eastern and western waters, they provided for the commencement of a number of other canals, the construction of which were neither warranted by the condition of our treasury nor by their probable utility. Was not this opposition well founded? We were gravely told by a committee of the Legislature, at that time, that the canal from Middletown to Clarke's ferry, would only cost 6,000 dolls. per mile, when the actual cost of that section has been more than five, nay six times that sum. This is a faint specimen of the difference between the estimates and actual cost on the other sections. The present condition of the works is certainly somewhat discouraging. In order to secure a majority, canals were commenced in almost every section of the state where they were practicable, none of which have been completed, and consequently the whole remains almost entirely unproductive.

One of the strongest objections to the present system of canalling was that no provision was made to meet the $8,327,849 31 interest on loans, and finally to reimburse the principal. In the state of New York, which the canal men in our own have professed to copy, among the earliest provi1,000,000 00 sions is to be found one for the assessment of a large sum of money from the occupiers of land immediately benefitted by the canal. This was certainly fair and proper. Those whose lands were enhanced in value were compelled to contribute in the same proportion. On a former occasion I suggested this equitable provision of our sister state, but the suggestion passed unheeded. The canal commissioners in their report, say: "But the advantages of this great public work, are not to be measured by the interest it will yield on the mcney expended; it adds an intrinsic and permanent value to the commonwealth, independently of the profits arising from tells. Facts existing in our own state, abundantly prove, that the additional value of the territory bordering on canals, more than equals the whole amount expended in their construction. It is believed, and the belief rests on practicable results that the owners of the soil in Schuylkill county, before the canal to Philadelphia was made, would have advanced their private interest by making the improvement at their own expense, the additional value to their lands arising from the canal, would have exceeded in amount the whole cost." If, sir, the additional value of the territory borexpended in their construction, it is but common justice that such territory should bear the burthen of their completion. The lands in the western and northern sections of the state will be greatly increased in value, while the lands in the southern section will not only not be increased in value, but their value will actually be diminished in proportion to the amount of debt which may eventually become an incumbrance on them. Then what should have been the course of the projectors and supporters of these improvements? It is plain. When the first law was passed authorizing the canals to be made, at the expense of the state, it should have been accompanied with a provision for the assessment and collection of the means of their completion from those who would be benefitted by them.

If this bill passes, we will have a public debt of more than thirteen millions and a half. It has been said that the million temporary loan of this session is to be paid off out of the loan authorised by this bill, but there is no provision in the bill for that purpose, and it may or may not be done according to circumstances. Is it not time for every reflecting man to pause and consider of the great magnitude of the debt? Where are we to stop? I, sir, am not one of those who consider a public debt a public blessing, but I deprecate it as a great evil to any community. In the year 1821 there was great uneasiness in the public mind in consequence of the "million loan" as it was termed; but now the sound of millions has become so familiar to the ears of some gentle-dering on the canals more than equals the whole amount men, that they do not seem to give the subject that serious consideration which it merits, and begin to view the vastly growing debt of the state with perfect indifference and composure. One year they borrow a million, the next between two and three millions, and this year we are called upon to go still further. The Legis lature have already this session passed three loan bills, one authorising the loan of a million, another compelling the banks to loan 5 per cent of their capital, which loan will amount to about 400,000 dollars, a third sanctioning the loan of 106,000 dollars made by the governor with out the authority of the law; but it seems these are considered but preliminary measures to the vast loan in this bill of four millions. I confess I feel some alarm at this rapid accumulation of debt. I call upon every member in this committee to reflect seriously on the subject.Let us not deceive ourselves and the people, in endeavours to divert our and their attention from this unpleasant subject, by picturing to the imagination golden harvests of prosperity that may never be realized. Let them know the whole truth and the full extent of the growing evil.

Some years since, Mr. Chairman, I had the honor of a seat on this floor, when the law passed for the commencement of the "Pennsylvania canal," and also when the law passed which authorised what was called an "extension" of that canal. My course at that time is well known. I opposed these laws because, at that time we were unprepared, and had not that information on the subject, which I thought was requisite, and because instead of ONE

Let

But what should now be the course of the Legislature? Would it not be prudent, under present circumstances, to suspend the further progress of the works? Let us have some breathing time. The friends of the canals have uniformly assured the people that they could be completed without general taxation. them now show that they have been correct in this as surance. Let us pause and provide some means of revenue that may not be burthensome, but may operate equitably and justly. Let us pass a law taxing the holders of lands on the line of the canals in proportion to the benefit they have and will receive; and taxing bituminous and anthracite coal which find a market by the canals, and which can well bear it, for the lands on which they abound have been more enhanced in value

1830.]

INIDGENT WIDOW AND SINGLE WOMEN'S SOCIETY.

by the canals than any others, and making some other similar provisions so that the people in those sections of the state which are not benefitted, may be relieved from the burthen that may otherwise fall upon them.

In the southern section of the state there has been nothing to increase the price of lands. The honest and industrious farmers, at present, pay heavy taxes. They pay your poor & road taxes, your taxes for educating poor children, your taxes to support courts of justice, and are subject to many other disadvantages. Would it not be highly unjust to heap on them any heavier burthens It certainly would. Let us see then that they are not to be subjected to this injustice. I for one, sir, will never consent to any measure that may lead directly or indirectly further to embarrass this useful and industrious class of the community.

ANNUAL REPORT

OF THE TREASURER OF THE "INDIGENT WIDOW & SINGLE WOMEN'S SOCIETY" FOR 1829.

Ar the annual meeting of the "Indigent Widow and Single Women's Society," held at the session room of the first Presbyterian church, on Thursday the 14th of January, 1830-the following Report was read by the

Rev. Mr. SANFORD:

In presenting a report to the benevolent founders and patrons of any public charity, or useful institution, it is peculiarly gratifying to be able to make such representations of its progress and prosperity as would be grateful to their feelings, and prove the most acceptable return which could be offered for their kind exertions to promote its welfare. But it is not always in the power of those on whom this duty may devolve, to furnish such a statement. A faithful account, which is the only one that can be rendered, may frequently be painful and discouraging, and one which may heavily tax the sympathy and kindness of friends. The managers of the "indigent widows and single women's society," as they had anticipated from the decline in their annual subscriptions, encountered considerable pecuniary embarrassment at the close of the past year; and under these circumstances were obliged to make a representation of the state of the society, in the public papers.-This statement did not excite all the sympathy that is usually manifested for this institution. There is, therefore,still a debt of the past year uncancelled, a circumstance much to be regretted; as the permanent fund is so small, that all that can be obtained in the way of incidental contributions, is necessary to meet the annual expenses of the society. The managers are well aware that there are numerous and important objects of usefulness which engross public attention and make their demand on public liberality; nor would they desire to institute any claim which could interfere in the least with benevolent efforts of any kind. There seems to be in christian charity, a capacity to enlarge and diffuse itself, so as as to meet all the wants of suffering humanity.

The heart that is alive to this generous principle will find its means to do good multiplied, and the hand that would be extended to wipe away the tear of the orphan, could not pass by, unheeded, the bitter calamity of the widow. With these views of the benevolence of the christian public, and with entire reliance on the sure promises of the God of the widow, the managers do not feel discouraged. They only think it their duty to offer a candid statement of the condition of the society.

Its operations have not been restricted by the state of the funds. The managers have still been enabled to provide with the comforts of home, throughout the year,

*Since this report was adopted by the Board of Managers, they were informed of a legacy of 292.50 dolls. left to the Society, by Mrs. Ann Bisland, which has been appropriated to the satisfaction of this debt.

85

forty-five of that suffering class of the community for whose relief the Institution was founded. During this period, however, several changes have taken place In the family. Four of its members have been removed by death, and three have left the Institution at their own request to be with their friends, who have offered to provide for them at home-one has been removed to the Alms-house, in consequence of a mental malady, which rendered this change necessary. The vacancies thus created have been nearly all filled by other admissions. Two foreigners have found a home in this asylum during the past year; one altogether unable to speak the English language. It is when we see such instances of suffering, that the value of this institution can be duly appreciated. What situation can be more desolate than that of an aged female sinking under infirmity, and bowed down with sorrow, in a state of entire destitution, in a land of strangers, unable to communicate the multiplied wants which press upon her, even to those whose sympathy might be awakened. In several instances has this society extended its relief to the broken-hearted stranger almost driven to despair.

The managers desire to make their grateful acknowledgments, to those kind friends by whom they have been remembered during the past year. They feel deeply indebted for the continued liberality of Mr. Robert Barclay, whose usual generous benefaction has been doubled at the present time, in consideration of the reduced state of the funds.

In an especial manner the managers would express their thanks to those pious individuals, who have visited the Asylum to promote the spiritual interests of its in These aged per

mates.

Such are indeed visits of mercy. sons will necessarily soon be summoned into the presence of their Judge, to give an account of the actions of a long life, whether they have been goed, or whether they have been evil,and if among their number there are any who have never sought and found mercy, through the merits of a Redeemer, it is with them indeed the eleventh hour, and there remains to them, but a brief and uncertain moment to make their peace with God. Under the pressing responsibility of such a case, the managers would earnestly solicit the continued visits of the ministers of the gospel, and those pious individuals who are willing to engage in this labor of love.

For a

The state of the funds of the society has already been referred to. An accurate and detailed statement will be found in the treasurer's report. The managers have endeavored to use all proper economy in regulating the expenditures of the Institution under their care. coinparatively small amount, the inmates of our Asylum are furnished with comfortable accommodation, provision, fuel, medicine and attendance in sickness; medical service is given gratuitously by a benevolent physician, who has for several years been interested in the Institutian. It has been found from accurate calculation, that all the comforts and advantages connected with a residence in the Asylum, are afforded at much less expense than would be incurred in any other situation in which these destitute females could be placed. Notwithstanding, however, this careful expenditure of the means of the society, its permanent fund, as has been frequently stated, is so inconsiderable, and its certain resources so inadequate, that a deficiency always exists in the income of the society; which can only be supplied, in the beign Providence of God, through the instrumentality of the benevolent.

The managers, though frequently embarrassed, have neyer yet been left without the means to redeem the pledge that has been given of support and protection to those who have entered the Institution. They therefore trust its aged inmates will still be able to plead their own cause. Those who have provided for them hitherto, they feel will always cheerfully minister to their ne cessities; remembering that the "hoary head is a crown of glory, if it be found in the way of righteousness."

« PreviousContinue »